{"id":81332,"date":"2020-08-24T09:26:17","date_gmt":"2020-08-24T08:26:17","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=81332"},"modified":"2020-08-24T09:26:17","modified_gmt":"2020-08-24T08:26:17","slug":"henry-boot-restructuring","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/hr-skills-news\/henry-boot-restructuring\/81332\/","title":{"rendered":"Henry Boot prepares for uncertain times ahead"},"content":{"rendered":"

Henry Boot<\/a> has taken the decision to restructure its construction division as it prepares for uncertain times due to the Covid-19 pandemic<\/h2>\n

The impact of Covid-19<\/a> saw Henry Boot\u2019s profit before tax tumble from \u00a324.1m in 2019 to \u00a37.2m in 2020, as all operations were impacted by the pandemic.<\/p>\n

The company\u2019s construction division made a pre-tax loss of \u00a3691,000 on a turnover of \u00a355.6m for the six months to 30 June.<\/p>\n

Henry Boot revealed construction had steadily recovered and is now operating at nearly 90%, while plant hire is operating at 82% of capacity.<\/p>\n

The group\u2019s revenue sat at \u00a3108.7m, compared with \u00a3189m the previous year.<\/p>\n

\u2018Reshape and protect the business\u2019<\/h3>\n

Commenting on the results, chief executive officer of Henry Boot, Tim Roberts, said: \u201cThe first half of the year has proved to be very challenging for all of us, but with an agile recovery plan and a robust balance sheet Henry Boot remains in a strong position.<\/p>\n

\u201cRight from the beginning of this pandemic we have focused on our stakeholders\u2019 wellbeing<\/a> and protecting the liquidity of the group so we can come through this in the best possible way.<\/p>\n

\u201cWhile CV-19 has affected our interim results and led us to make difficult decisions to reshape and protect the business, we have seen clear improvements in our operations. As this momentum builds, we have been quick to secure selective long-term opportunities and make progress in our key markets \u2013 residential, industrial and urban development.<\/p>\n

\u201cWe are prepared for uncertain times ahead but where we see good opportunities to invest, without taking undue risk, we will continue to take them.<\/p>\n

\u201cI would like to thank all of the group\u2019s employees for their dedicated hard work during this unprecedented period, whose efforts have helped keep the business viable and produced a robust set of results, which are creditable given the circumstances we are in.\u201d<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

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